Just Joshing Around

One of my favorite things about gold is how it finds its way into everyday vernacular. For instance, did you know the phrase “Joshing around” originated from American coin mintage? Er, American coin counterfeiting, I should say.

According to the American Numismatic Association (money.org), in the early 1880s, not long after the first U.S. Dollar paper bill was printed in 1861-62 (a practical, less cumbersome currency to pay Union soldiers to fight in the Civil War, as authorized by Abraham Lincoln - yes, Honest Abe created the greenback), the U.S. Mint released five cent nickels without the word “cents” after the Roman numeral V (five).

A man by the name of Josh Tatum noticed that the new nickel coin looked strikingly similar to the much more valuable $5 gold coin that was in circulation at the time. Ever the American innovator, and legendary criminal as we’d come to learn, Josh decided to gold plate the nickels and pass them off as a $5 gold coins at local stores, receiving $4.95 in real money as change.

Eventually, Josh was caught and the phrase Just Joshing Around was coined, since a coin made of precious metals that is not backed by the good faith of a sovereign government is known as a “round.”

Personally, this phrase is a sore subject for me as of late, reminding me that our family friend “Josh” beat me in “a round” of golf by… what was it… 20 strokes? You better be feeling comfortable off the tee “round” these parts, lest you’d be better off birding. For some reason, my hip just didn’t feel like turning that day. I digress.

So, why is all this relevant? Well, for many people, it’s not. That’s right. Most people would prefer to believe the system that has treated them so well. Give your money to a company that charges a fee and wait out the stock market corrections. Inflation, inshmlaytion, right?

Well, for some folks, actual, real, tangible gold feels much safer than paper or digital money. Sure, Brooklyn Dough accepts my plastic card in exchange for their delicious bagels and the number on my J.P. Morgan app reduces by however much those fine folks are charging for the pure bliss experienced when biting into a rainbow bagel with cold cream cheese. But will Brooklyn Dough accept silver coins for bagels?

This brings us to last column’s trivia answer: July 1, 2026, is when the state of Florida will officially legalize gold and silver coins as legal tender by virtue of Legislative Statute CS/HB 999. It will be up to the individual businesses whether or not to accept the coins, according to FLSenate.org. The kicker? The Senate voted 38-0 in favor; House 113-0 in favor.

If gold and silver are legal tender in Florida, would it make sense to keep part of your checking account at home, where you can feel it and literally watch it (potentially) grow in value against the value of the dollar? It’s kind of like owning a TIPS bond, except you don’t have to wait to spend the money. Plus, gold is up 38% YOY and silver is up 125% YOY. I am no Einstein, but I am pretty sure 125% beats inflation. What a concept!

One last thing before I sign off this column, I would be remiss if I did not congratulate the publisher of Coastal Breeze News, Val Simon, on her recent 2026 Spirit of Marco Rotary Club Honor! It is an honor to write for your awesome newspaper. You have been so welcoming to me with my new column. Thanks, Val! You are the “gold standard” of the Marco Island community, aka, the best!